Interventional Neurology Market Research Report: By Disease Pathology (Cerebral Aneurysms, Ischemic Strokes, & Others), Product (Aneurysm Coiling & Embolization, Neurothrombectomy, Support Devices, & Others), End User – Global Forecast Till 2027
Interventional neurology entails a list of endovascular catheter techniques for accurate diagnosis and treatment of vascular diseases of the central nervous system. New applications of acute endovascular stroke treatment, diagnostic cerebral angiography, and cerebral aneurysm treatment can bring into focus the latent potential of these devices. The global interventional neurology market report by Market Research Future (MRFR) outlines various factors and developments which bring forth its prospects for the period between 2018 and 2023 (forecast period).
Market Outlook
The global interventional neurology market is projected to grow at a steady CAGR of 7.8% during the forecast period. The increasing cases of neurological diseases is one of the primary drivers of the market. Out of 1.2 million brain disorders, nearly 21% can be traced back to Alzheimer’s. Recommendations by various reputed associations for treatment of strokes is one of the pivotal driving forces of the market. This can lead to heightened demand for these devices in the coming years.
Other major market drivers include demand for effective neurovascular devices, medical reimbursement schemes, and a large patient pool can spur the demand for interventional neurology devices during the forecast period. Furthermore, the inclination towards minimally invasive surgeries will be one of the factors which can influence the global interventional neurology market.
However, lack of skilled neurosurgeons and stringent regulations pertaining to approval may stymie the market growth.
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Segmentation Analysis
The global interventional neurology market is segmented based on disease pathology, product, and end user.
The global market for interventional neurology, by disease pathology is segmented into ischemic strokes, arteriovenous malformation and fistulas, cerebral aneurysms, and others.
Major products in the market include neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, and support devices. The neurothrombectomy devices are further classified as clot retrieval devices, suction and aspiration devices, and snares. The aneurysm coiling & embolization devices segment is further classified as embolic coils, flow diversion devices, and liquid embolic agents. The embolic coils segment includes bare detachable coils, and coated detachable coils. The cerebral balloon angioplasty and stenting systems segment is further classified as carotid artery stents, and embolic protection systems. The embolic protection systems segment includes distal filter devices, and balloon occlusion devices. The support devices are further classified as microcatheters, and microguidewires.
Based on end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others.
Regional Analysis
Asia Pacific (APAC), the Americas, Europe, and the Middle East & Africa (MEA) are top regions under the careful purview of the global interventional neurology market report.
The Americas are pegged to dominate the global market due to the large geriatric population and presence of numerous players. Favorable government approvals to neurological devices, development of minimally invasive neurological surgeries, and a large ageing population are major factors driving market growth.
Europe assumed the second position in the global interventional neurology market owing to a rise in research and development investments. Increasing entry of new players in the marketspace combined with approval of new products can pave the way for the market to expand successfully.
The APAC region is deemed to exhibit a robust CAGR during the forecast period owing to an improved healthcare framework, a notable increase in healthcare expenditure, and increased participation of market players.
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Competitive Outlook
- Braun Melsungen AG, Merit Medical Systems, Inc., Johnson & Johnson, Cook Medical, Medtronic PLC, Boston Scientific Corporation, Penumbra, Inc., Stryker Corporation, Microport Scientific Corporation, Terumo Corporation, W.L. Gore & Associates, Inc., and Abbott Laboratories are key players in the global interventional neurology market.
Industry Update
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